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School Land Trust CEO objects to LB3 interest transfer, warns of constitutional issue
Summary
Kelly Sudbeck, CEO of the Board of Educational Lands and Funds, told the Appropriations Committee that interest from the board's operating account has been diverted to the state general fund under LB3 and urged restoring those funds to K–12 support, saying the change is unconstitutional as applied to the board.
Kelly Sudbeck, chief executive officer of the Board of Educational Lands and Funds (commonly called the School Land Trust), told the Appropriations Committee that the board’s income is constitutionally dedicated to support K–12 public schools and asked the committee to consider amending LB3 to remove the board’s operating account from that bill.
“We are a constitutional agency,” Sudbeck said, describing the land grant under the Enabling Act and noting the board still holds about 1,250,000 acres. She said the trust paid $120,000,000 into the public school system “for their support” this year and that the board is self-funded —…
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